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Out of the 57 ICO projects analyzed, ETH treasury balances gradually decreased over the past year
Within the last 12 months, these companies liquidated (or moved) 1.8 million ETH from their treasuries
In aggregate, these ICOs have moved or liquidated 72% of the amount they initially raised (8.2 million ETH)
11 of the companies are currently trading at a discount to the value of their ETH treasury balance
Footnotes
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